RE: Wirecard ripple effects: MCO Cards Suspended, CRO also dumping

Yup, I agree with you and thought the same thing. How can they be so much more attractive than other exchanges /staking services is a midterm to me.

So I stay away even if I might be wrong.

Cheers 🥂 mate

Lucky for you that you didn't take that offer at that time. Now you have got better rates and a chance to avail it. But now you know that cards are no longer available in Europe.

You have raised a very important question. Let me try to answer it, if I can.

Crypto.com is a new Exchange but the company already had about 1M customers before the public launch of Exchange in December, 2019. But Crypto.com is not just another Exchange, it aspires to get into the top-10 slot withing next 5 years if not sooner.Working for such high ambitions has its own cost. That's why it's aggressively running several promotions and running several offers. To my understanding, al these are its new customer acqusition cost.

Also, if you have noticed, all offers have some caveats or limitations. Like new customers are being offered 0% trading fee but only for first 6 months, reduced trading fee but on staking CRO, etc.

Most of the offers require CRO staking (like tp avail 50% Syndicatee discounts), The Syndicate deals necessitates purchases through CRO and are capped with some upper & total limit. Many rewards are also being paid in their own coin CRO. E.g. 2% soft staking rewards on your Exchange deposits are paid in CRO (not liquid, but staked) ...and this also has a upper amount limit and time limit of 30 days only. For availing that they ask for at least 3x trading volume on your deposits in 6 months. Implying that the reward will be released after 6 months.

Today I won some promotion reward in their Weekly Telegram Madness event and they are going to pay me in their own coin CRO. So most of the promotional activities is part of a distribution plan for their own coin.

Regarding their Earn scheme, where they are offering interest on your staked coin in the very coin you staked, it also has an upper limit for investment. Secondly, this is the cost of raising liquidity from the market. If you read their terms for Earn scheme carefully, they take your consent to convert your asset into any other digital asset and lend it further to borrowers. So they are earning higher interest rates on your capital and offering you a share of their earnings. The same way as banking institutions work.

You can also ask your doubt to their official Telegram or Twitter. They can tell you better.

But I'm very hopeful of this Exchange and I think it can do better than many top Exchanges. The best thing is it is not charging any listing fee, unlike Binance and others. This will make it easy for several bootstrapped blockchains to get listed. They also have their own CRO chain and are offering validation rewards for running its node. This opens up many possibilities. But let's see, only time will tell!

It's always good to wait and observe them in case of doubt.